Charlotte, NC Duplex 28205

[Susan Sutherland]

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $270,000
Cash invested: $61,000

Duplex with two 2br/1ba units. Both smelled terribly and the back unit had a thick smoke coloring and smell.

Cleaned, Kilz, painted to get rid of the smoke. New kitchens in both units, new bathroom in one unit, new lighting and appliances and LVP in both. Furnace repair, pressure wash, two new windows, new exterior doors, sanding and painting exterior handrails and back porch.

How did you find this deal and how did you negotiate it?

Found on MLS. Originally listed for $330,000 but in estate and owners did not want to renovate or be landlords.

How did you finance this deal?

Private lender for purchase, HELOC for renovation. Will refinance when seasoned.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I was the agent and sourced the private money.